Bitcoin has more room to run in October: A closer look

Bitcoin (BTC-USD) rises to kick off October — historically the cryptocurrency's strongest month. Yahoo Finance Senior Reporter Ines Ferré outlines some...

Bitcoin (BTC-USD) rises to kick off October — historically the cryptocurrency's strongest month. Yahoo Finance Senior Reporter Ines Ferré outlines some tailwinds for bitcoin beyond historical performance.To watch more expert insights and analysis on the latest market action, check out more Market Domination.00:00 Miles All right, Bitcoin peaking back above $120,000 on Thursday 00:02 Miles and there may be more gas in the tank. October is traditionally a strong month for the cryptocurrency and as Fray joins us now to discuss what has the crypto bulls back in control and s. 00:14 Ines Fray Yeah, Miles, and we are seeing Bitcoin at around 120,000 per token. 00:20 Ines Fray The second day of the month and for a second day, we've seen Bitcoin rising for October as the Bitcoin Bulls like to put it. 00:26 Ines Fray Uh, you have a uh tailwind as far as liquidity is concerned. 00:33 Ines Fray You had a headwind back in September with that uh and now it's a tailwind and you've got another tailwind happening and that's the stable coin issuance. That's been accelerating over the last several months. 00:43 Ines Fray And that bodes well for the entire ecosystem of crypto because you've got these stable coins that are running on blockchains like Ethereum, like Solana. 00:54 Ines Fray You also uh have City Group that has their uh has said that the year end target for crypto is 132,000. 01:03 Ines Fray You also they also set a 12-month target uh for Bitcoin uh of 181,000. 01:10 Ines Fray And one other interesting note is from Sean Farrell over at Fundstrat and he mentioned the relationship between gold and Bitcoin over the last couple of years. 01:18 Ines Fray that they kind of take turns, usually gold front runs Bitcoin. 01:23 Ines Fray And uh gold has been overstretched, has been over in sort of overbought territory and now it may be Bitcoin's term. 01:32 Ines Fray So he's seeing a that in the next couple of weeks, you could see a bit of a rotation from gold, from analog gold into digital gold as investors pour into uh Bitcoin and other cryptocurrencies. 01:43 Miles All right, Ines Fray with the latest on the crypto trade.